Shares of AppLovin Corporation (NASDAQ:APP – Get Free Report) dropped 8.7% during trading on Monday . The stock traded as low as $471.32 and last traded at $462.8580. Approximately 547,202 shares traded hands during trading, a decline of 90% from the average session volume of 5,457,605 shares. The stock had previously closed at $506.98.
AppLovin News Summary
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: Wells Fargo raised its price target on AppLovin to $575 and kept an Overweight rating, signaling continued analyst confidence in the stock’s longer-term upside. Wells Fargo Raises PT on AppLovin (APP) Stock
- Positive Sentiment: Some market commentary says the selloff in APP may be overdone, with valuation still supported by AppLovin’s AI-driven expansion beyond mobile gaming into e-commerce advertising. AppLovin (APP) Stock Looks Like A Bargain On Its 15x Run
- Neutral Sentiment: AppLovin continues to attract attention for its effort to use AI to expand into e-commerce advertising beyond mobile gaming, but this remains a longer-term growth story rather than an immediate catalyst. How AppLovin (APP) Is Using AI to Expand Beyond Mobile Gaming Into E-Commerce Advertising
- Negative Sentiment: Analyst and media reports pointed to softer June e-commerce growth, renewing concern that AppLovin’s new ad initiative may be taking longer to gain traction. AppLovin’s Ecommerce Growth Soft In June, Says BofA Citing Third-Party Data
- Negative Sentiment: AppLovin is also being hit by broader selling in high-beta growth names and market weakness tied to geopolitical risk, which has amplified the stock’s decline. AppLovin Stock Tumbles 12% Amid Broader Selloff
- Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of AppLovin investors, adding a legal overhang that can weigh on sentiment. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of AppLovin Corporation – APP
Analysts Set New Price Targets
A number of research analysts have weighed in on APP shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Argus initiated coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 price target for the company. JPMorgan Chase & Co. upped their price target on AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Piper Sandler reiterated an “overweight” rating on shares of AppLovin in a research report on Tuesday, July 7th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $668.45.
AppLovin Price Performance
The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24. The stock has a market capitalization of $150.83 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 0.72 and a beta of 2.49. The stock has a 50 day moving average price of $508.50 and a 200-day moving average price of $493.54.
AppLovin (NASDAQ:APP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue was up 58.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. On average, analysts forecast that AppLovin Corporation will post 15.93 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO Arash Adam Foroughi sold 22,544 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the completion of the sale, the chief executive officer directly owned 2,327,684 shares in the company, valued at $1,152,157,026.32. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the transaction, the insider owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 393,000 shares of company stock valued at $197,297,363. Corporate insiders own 13.66% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Redhawk Wealth Advisors Inc. boosted its holdings in AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after buying an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of AppLovin by 5.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares in the last quarter. Strategic Advocates LLC increased its holdings in shares of AppLovin by 0.8% in the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares in the last quarter. Finivi Inc. lifted its position in shares of AppLovin by 3.2% during the 4th quarter. Finivi Inc. now owns 711 shares of the company’s stock valued at $479,000 after acquiring an additional 22 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its position in shares of AppLovin by 2.8% during the 2nd quarter. Revolve Wealth Partners LLC now owns 851 shares of the company’s stock valued at $438,000 after acquiring an additional 23 shares during the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.
About AppLovin
AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.
Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.
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